Proceeds from common, flow-through units to fund gold exploration
By Marisa Wong
Madison, Wis., Nov. 3 - Manson Creek Resources Ltd. said it completed a non-brokered private placement of units to raise C$1.06 million.
The company sold 18.5 million common units at C$0.05 each and 1.9 million flow-through units at C$0.07 each.
Each common unit consists of one common share and one warrant. Each common share warrant is exercisable at a price of C$0.10 per share until May 3, 2012.
Each flow-through consists of one common flow-through share and one half-share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.10 until May 3, 2012.
The strike price represents a 17.6% premium to the Nov. 1 closing share price of C$0.085.
Proceeds will fund gold exploration on the company's Newfoundland and Yukon projects and provide general working capital.
Manson Creek is a Calgary, Alta.-based mineral exploration company.
| Issuer: | Manson Creek Resources Ltd.
|
| Issue: | Common units, flow-through units
|
| Amount: | C$1,058,000
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 3
|
| Stock symbol: | TSX Venture: MCK
|
| Stock price: | C$0.085 at close Nov. 1
|
| Market capitalization: | C$4.11 million
|
|
|
| Common units
|
| Units: | 18.5 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | May 3, 2012
|
| Warrant strike price: | C$0.10
|
|
|
| Flow-through units
|
| Units: | 1.9 million
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 3, 2012
|
| Warrant strike price: | C$0.10
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
